Is Bitcoin dead? That's what it looks like

It has to be said so clearly: Today's Tuesday was brutal. A Bitcoin descent of 17 percent (as of 11 o'clock) within 24 hours does not leave even hardened Hodler cold. So should we follow the trend and fall into collective panic? What are the reactions from the scene? An overview.

Bitcoin has crashed. The value of the cryptocurrency has dropped by as much as 18 percent within one day (as of 11 noon). That is handsome and can not be nice. Those who took the lead in the 2017 FOMO Bullrun have since posted losses in excess of 70 percent. Nevertheless, this decline also requires an arrangement.

Bobby Lee: The four big mistakes of the Bitcoin investment

Already after the turmoil on November 14th, Bitcoin veteran Bobby Lee reminded us of four fundamental rules for a successful crypto-investment. Especially rule four is now more than:

Crashes are one of them

Those who have been around for a while can safely take the recent descent with more composure. Newcomers should be told Bitcoin crashes are one of them. Anyone who thinks that the current sale is substantially different from previous falls, this table is recommended to the heart:

#John McAfee: Spring is coming for winter

You can be divided about Bitcoin preacher John McAfee. But he summarizes the current situation via Twitter aptly:

"People are panicking. But that is not necessary. We are in a bear market. They are corrosive, yes. [...] But I am 73 years old and have seen this dozens of times in many markets. Bear markets are like winter. It always follows a magnificent spring. "

Just wondering when.

Where is the journey going?

Nobody knows how many feathers Bitcoin leaves before the bottom has been reached. However, there are a few promising support levels where a course turnaround is possible.

For example, chart analyst Murad Mahmudov considers a $ 3,000 crash to be possible, but then conclude:

Maybe it helps to remember that the infrastructure continues to develop positively contrary to the courses. Examples include the crypto-trading desk of Fidelity, the BAKKT Futures and the approval of a crypto-ETP in Switzerland. So the signals are pointing upwards. Sooner or later, this will manifest itself in the price.

Last but not least, something to smile about in these times: